Search begins for investors to develop Pelwatte Sugar Factory as tourist attraction
Daily FT: Sri Lanka’s Cabinet of Ministers has recently approved a proposal to identify investors to develop selected areas of the Pelwatte Sugar Factory premises into tourist attractions under a public-private partnership (PPP).
“There is potential to develop selected places of the Pelwatte Sugar Factory into tourist attraction locations,” Cabinet Spokesperson and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet media briefing last week.
The Cabinet of Ministers approved the process to call for expressions of interest from eligible investors and to invite project proposals for the development of the factory premises through a PPP model.
The Pelwatte Sugar Factory is owned by Lanka Sugar Company Ltd., and the initiative aims to transform parts of the industrial site into tourism destinations, promoting both heritage and economic development.
OSL take:
While Sri Lanka’s tourism industry is on a steady growth path presenting many business/investment opportunities, the Sri Lankan government’s ongoing development agenda that includes PPPs targeting the tourism industry have added to the existing parcel of opportunities open for foreign businesses/investors. Given the growing attraction of Sri Lanka as a must visit tourist destination and the many tourism concepts being promoted by local authorities to attract more tourists to the country, the business/investment opportunities in the tourism industry span across many related sectors and will continue to evolve to meet the increasing demand. With the increasing growth and business potential in Sri Lanka’s tourism industry and related sectors, foreign businesses/investors could explore the expanding opportunities including the opportunity to develop selected areas of the Pelwatte Sugar Factory premises into tourist attractions under a PPP. Foreign businesses could also look at expanding operations in the tourism industry through local collaborations.
| Article Code : | VBS/AT/20260120/Z_3 |